Here is my situation:I've owned and lived in my house as my primary residence for 3 years.Up until the last year, I have rented out spare bedrooms (space within the living area).I got married about a year ago and my spouse has now been living in the house as her primary residence for 12 months.Question 1: IRS publication 523 states in the section under Business or Rental Use of Home, "If the space you used for business of rental purposes was within the living area of the home, then your usage doesn't affect your gain or loss calculations.

Meaning I was not a good candidate for his student profile.Here is my background info that I gave him.1) I have 2 homes, I live in one, cash flow on the other.2) I have little reserves, <10K but building up quickly.

You can do it with a location name (primary bedroom, living room, etc.) or with numbers.

Enjoy! 

Giving reduced rent to someone who will be enjoyable to live with while treating you and your space with respect is worth it.

Hi,I know what I'm asking is not legal, but it also doesn't stop the 30,000+ not legal apartments that currently provide a home for families in Queens, NYC that would otherwise not be able to afford to live there.I'm just trying to see, as a landlord, are there certain steps I can take to reduce any potential risks I could face for renting out the apartment?

I know that can be a trap for many now, because, to put the shame of their impoverished pasts behind them, they take on oversized mortgages and car payments and loads of lifestyle expenses that keep them living paycheck to paycheck forever.What have you had to unlearn along the way to achieving your own goals?

two different flavors.https://www.biggerpockets.com/real-estate-investing/house-ha...https://www.biggerpockets.com/blog/live-in-flip

I’m planning to update and repaint, maybe increase rent on one side to 3000-3100 while I live in another unit and replenish to legalize garage space.Monthly payment: $7033. landlord pays for water, everything else is separate.It just feels very tight in the beginning before getting ADU gets legalized. 

Since the rush was there, the rents increased drastically and priced out local tenants who normally live at a place longer than 12-24 months creating vacancies due to rent increase YOY.